Solana (SOL) has caught the crypto market’s attention again after a whale made a massive withdrawal from Binance, transferring 374,161 SOL—worth approximately $52.7 million—to a private wallet. On-chain analysts suggest the move could reflect strong bullish sentiment for Solana in the short-to-medium term.
According to blockchain data from Whale Alert, the transaction was executed within the past 24 hours and involved funds moving off a centralized exchange. The withdrawal from Binance to a self-custody wallet is typically seen as a bullish indicator, especially when initiated by a whale, as it often signals accumulation rather than a move to sell.
Exchange Outflows: A Bullish Case for SOL
When investors transfer assets from exchanges to unknown or private wallets, it usually implies long-term holding intentions. These exchange outflows shrink the amount of readily available supply on trading platforms, potentially reducing sell pressure and supporting upward price momentum.
With this whale withdrawing such a large amount of SOL from Binance, there’s a strong possibility they are preparing to hold or stake their position—both of which are bullish signs. While a single whale’s behavior doesn’t dictate market trends, it can signal broader investor sentiment among high-net-worth individuals.
XRP Whale Goes the Opposite Way
Interestingly, not all whales are bullish right now. On the same day, another whale transferred 29.5 million XRP (~$62.6 million) into Coinbase—often considered a bearish move. Such exchange inflows may indicate an intention to sell, potentially adding downward pressure to the XRP price in the near term.
Solana Price Update
At press time, SOL is trading around $134, showing a nearly 4% gain over the past seven days. With whales like this accumulating, many traders are now eyeing the possibility of Solana reclaiming the $140 level if bullish momentum continues.
